Axis Bank Reserve Credit Card: New rules for customers from August 13; details here

financialexpress.com:

Axis Bank has revised the terms and conditions applicable to Axis Bank Reserve Credit Card customers. The revised rules will be applicable from 13th August 2023, as per information available on the Axis Bank website. Following are details of the changes announced by Axis Bank.

Revision of Transaction MCC (Merchant Category Code) considered for Annual Fee Waiver and Edge Program:

The bank said spends threshold for annual fee waiver will exclude transactions done on Government institutions and utilities.

Further, spending on Government institutions and utilities will not be eligible for EDGE Rewards.

Utilities: 4814, 4816, 4899, 4900Govt Institutions: 9222, 9311, 9399, 9402

Customers will be able to transfer EDGE Reward points to domestic and international partners across airlines and hotels as per the revised transfer ratio of 5:1 (5 EDGE Reward Points = 1 Partner Point/Mile)

For Accor, the transfer ratio will be 10:1 for Reserve (10 EDGE Reward Points = 1 Partner Point/Mile)

Total EDGE Reward Points that can be converted to Partner Points in a calendar year is capped to 5,00,000 EDGE Reward Points per customer ID.

For the year 2023, customer can convert 5,00,000 EDGE Reward Points from 13th August 2023 – 31st December 2023.

Also Read: Axis Bank Credit Card Lounge Access List Changed. Check Full List of Cards, Access Limits at Airports

For each of the airline/hotel transfer partners, customers can only link 1 partner program loyalty ID for each partner at a given point of time.

The bank said if a customer wishes to link another ID, the primary/existing linked ID will then get delinked by default.

For every individual partner program, the customer needs to wait for a period of 60 days after updating partner loyalty ID